A UK social commerce platform has finally debuted on the Nasdaq exchange in New York ahead of a launch in the United States.
WeShop is registered in the British Virgin Islands but headquartered in London, with a base in Manchester.
It combines shopping and social interactions to drive product discovery, retailer growth and community ownership. The company has deposited over 50% of its shares into a trust to be distributed to its shoppers.
Its ShareBack Rewards Plan allows users the opportunity to earn WePoints every time they shop or refer a friend that shops through the platform. These WePoints can then be converted into ownership in WeShop.
WeShop – which partners with the likes of John Lewis, eBay, Selfridges, ASOS, Expedia, British Airways, TEMU and Shein in the UK – plans to launch its app in the US with hundreds of retailers.
It had planned to IPO on the tech-heavy Nasdaq in 2023 but put those plans on hold due to turbulence in the public markets following the collapse of Silicon Valley Bank.
WeShop says it provides access to thousands of brands and over 1.2 billion products. The company has completed over $140 million of sales in the UK to date.
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“Our direct listing marks a new chapter for WeShop and our community,” said John Garner, founder of WeShop. “We’re giving users real ownership in the platform they help build, making access to the public markets more open and inclusive.
“Peer to Peer recommendations continue to outperform traditional advertising, proving that trust and authenticity drive real growth. WeShop is redefining e-commerce by combining shopping, social interaction, and ownership — a model that puts users, not just corporations, at the center of the retail economy.”